Saudi Aramco has launched a mega project called Spark in partnership with the Saudi Authority for Industrial Cities and Technology Zones.
The 50 sqkm project also known as the King Salman Energy project will be located between Dammam and Al Ahsa in Saudi Arabia’s Eastern Region and will be developed in three phases to be completed by 2035.
The first phase covers 12 sqkm and is expected to be fully developed by 2021, which will attract over 120 investments, Saudi Aramco said.
The company also mentioned that Spark will eventually have five main regions, of which the first one will focus on general manufacturing and electricity, and equipment’s and liquids, and chemicals, metal formation and industrial services.
The project will also include a dry port with a capacity to hold of 8 million metric tonnes of cargo annually and Saudi Aramco will make the project its drilling and work-over operation headquarters and will be home to a supply chain management centre.
According to Saudi Aramco, by 2025, the park is expected to contribute $5.87 billion to the Kingdom’s GDP and create as many as 100,000 direct and indirect jobs.
It said that the purpose is to set Spark’s foundation as an economic initiative that can attract, establish, and encourage local energy industries capable of competing in the global arena, as well as foster companies specializing in power generation materials and providing engineering and oil field services.
The project will also localise more than 350 new industrial and service facilities and establish an industrial base that facilitate innovation, development and global completion, the oil giant added.